Auditor’s report on the use of funds transferred by the National Property Fund to the Dagmar and Vaclav Havel Foundation VIZE 97 and related revenues
We have carried out an audit of the use of funds transferred from the National Property Fund of the Czech Republic to the Dagmar and Vaclav Havel Foundation VIZE 97 and related revenues in the period 1 January 2010 to 31 December 2010. The Foundation’s board of trustees is responsible for maintaining the accounting records.
Our responsibility is to express an opinion as to whether the transferred funds and related revenues were used in compliance with the terms and conditions of the Contract dated 20 December 1999 for the Transfer of Funds set by the resolution No. 413 of the Chamber of Deputies of the Parliament of the Czech Republic from the 15th meeting 8/7/99 to discuss the government bill on the distribution of funds acquired through the sale of shares intended for the 1st phase of the Foundation Investment Fund and in compliance with the Contract 00066-2002-211-S-N-22 dated 25 February 2002 (and its amendments) for the Transfer of the Remaining Funds set by the resolution No. 413 of the Chamber of Deputies of the Parliament of the Czech Republic for the purpose of the 2nd phase of foundation support.
We conducted our audit in accordance with the Act on Auditors and International Auditing Standards. These standards require an auditor to perform the audit to obtain reasonable assurance about whether the funds transferred from the National Property Fund and the Ministry of Finance of the Czech Republic and related revenues were used in compliance with the contractual terms and conditions. An audit includes examining evidence on a test basis. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, as of 31 December 2010, the Dagmar and Vaclav Havel Foundation VIZE 97 used the transferred funds and related revenues in all material respects in compliance with the terms and conditions of the Contract dated 20 December 1999 for the Transfer of Funds set by the resolution No. 413 of the Chamber of Deputies of the Parliament of the Czech Republic from the 15th meeting 8/7/99 to discuss the government bill on the distribution of funds acquired through the sale of shares intended for the 1st phase of the Foundation Investment Fund and in compliance with the Contract 00066-2002-211-S-N-22 dated 25 February 2002 (and its amendments) for the Transfer of the Remaining Funds set by the resolution No. 413 of the Chamber of Deputies of the Parliament of the Czech Republic for the purpose of the 2nd phase of foundation support.
Prague, 10 June 2011
KPMG Česká republika Audit, s.r.o
Licence number 71
Ing. František Dostálek
Partner
Licence number 176
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